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20121202
20121210
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the fiscal cliff. right after the election wall street dropped 5% when everybody suddenly focused on the fiscal cliff and realized that this was a problem. but since then it's kind of bumped along at this sort of level. i don't think wall street is at all sanguine about the idea that if we went over the fiscal cliff, life would go on as we know it and everything would be fine. >> one of the things that was really interesting to me to bear out that point is ken conrad yesterday who's been so down, i mean, he's leaving the senate. he's done this for seven years. they can't produce deals. and yesterday when i interviewed him, joe, he said i think we're going to make this. i think the boehner offer had significant indicators that something here is going on, and they're going to come together. >> also, kent conrad, a guy -- i've loved him for a long time, deficit hawk. they haven't allowed him to put a budget out for years. he's growing frustrated. i'm sure he's going to be glad to leave. but i was surprised by that as well. you see also, sam stein, republicans are now starting to real
and majoritarianism. winning elections is the easy part. the question is whether they can govern, whether there's any tolerance for minorities, for multiple points of view. he did a power grab. there's now pushback. i think it's wrong to assume, though, that all the people pushing back are necessarily democrats. >> no. >> a lot of people are just going to try to take advantage. >> but everybody's pushing back, and certainly elements of mubarak's regime are looking for an opportunity to regain some power. but you also have coptic christian pushing back, other islamists pushing back, some even more extreme. >> exactly. >> you have all elements pushing back here. i'm absolutely bewildered as to why morsi thought he could get away with this. >> these are guys, morsi, who are either in jail or in the streets in opposition for their entire careers. they come into office. why would we think that they spent all their time out of office reading the federalists papers in arabic translations? they didn't. the only political game they know how to play is the old play. >> get power. >> seize it. in this case, the
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